Shenzhen Airport sells its ads at abnormally low price

By | April 11, 2013

shenzhen T3 terminal

Shenzhen Baoan International Airport Terminal 3

According to the NBD News, the main project of T3 terminal of Shenzhen Baoan International Airport has been completed, which looks like a giant flying fish from the sky. The great business potential of advertising offered in the new terminal also like a fish being stared at for a long time.

March 29, 2013, the Shenzhen Airport delivered a foreign investment announcement that it will form a joint venture with the “Asiaray Advertising Co., Ltd. hereinafter referred Asiaray The Shenzhen Airport invested 15.3 million yuan (USD 2.448 million) accounting for 51% equity, Asiaray contributed some cash and 55% equity of its wholly-owned controlled the Shenzhen Asiaray 55% with the total investment evaluated as 14.7 million yuan (USD 2.352 million) and will hold a 49% stake in the joint venture. The operating period of the joint venture will be up to 15 years.

“This is obviously selling at an abnormally low price (贱卖)!” Insiders commented.

A year ago, the Shenzhen Airport had been criticized as holding fire sale of state-owned assets (贱卖国有资产) by working with Asiaray. Almost one year has passed, no major changes are found in the new deal according to the new report.

“We made an offer of 100 million yuan (USD 16 million), but the Shenzhen airport did not answer us”, yesterday (April 10) Air Media Group Vice President at Yunfeng told the NBD reporter. But Chief Financial Officer and Deputy General Manager of Shenzhen Airport told reporters that “There is no fire sale of state-owned assets (贱卖国有资产)”.

Reference Link: http://www.nbd.com.cn/articles/2013-04-11/731524.html

Shenzhen International Airport

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